FY2018 EPS Estimates for SEI Investments Cut by Oppenheimer (SEIC)

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SEI Investments (NASDAQ:SEIC) – Oppenheimer cut their FY2018 EPS estimates for SEI Investments in a research report issued on Wednesday, January 9th. Oppenheimer analyst G. Greene now anticipates that the asset manager will earn $3.14 per share for the year, down from their previous estimate of $3.18. Oppenheimer has a “Outperform” rating and a $60.00 price target on the stock. Oppenheimer also issued estimates for SEI Investments’ Q4 2018 earnings at $0.74 EPS, Q1 2019 earnings at $0.74 EPS, Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.78 EPS, Q4 2019 earnings at $0.82 EPS, FY2019 earnings at $3.08 EPS and FY2020 earnings at $3.51 EPS.

A number of other brokerages have also weighed in on SEIC. Zacks Investment Research lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a report on Thursday. Keefe, Bruyette & Woods raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $68.00 to $63.00 in a research report on Wednesday, October 24th. Rosenblatt Securities assumed coverage on shares of SEI Investments in a research note on Wednesday, December 5th. They issued a “neutral” rating and a $59.00 price objective on the stock. BidaskClub cut shares of SEI Investments from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 4th. Finally, ValuEngine lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. SEI Investments currently has an average rating of “Hold” and an average target price of $69.50.

Shares of NASDAQ:SEIC opened at $47.42 on Thursday. The company has a market cap of $7.16 billion, a P/E ratio of 20.44, a PEG ratio of 1.17 and a beta of 1.24. SEI Investments has a 12 month low of $42.27 and a 12 month high of $78.35.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Tuesday, October 23rd. The asset manager reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $408.68 million for the quarter, compared to analyst estimates of $410.35 million. SEI Investments had a net margin of 31.46% and a return on equity of 30.73%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the asset manager to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a semiannual dividend, which was paid on Tuesday, January 8th. Stockholders of record on Thursday, December 27th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, December 26th. This is a boost from SEI Investments’s previous semiannual dividend of $0.30. This represents a dividend yield of 1.33%. SEI Investments’s dividend payout ratio is currently 28.45%.

In other news, major shareholder Alfred P. West, Jr. sold 212,995 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $53.41, for a total transaction of $11,376,062.95. Following the sale, the insider now owns 10,144,708 shares of the company’s stock, valued at approximately $541,828,854.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 145,238 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $52.76, for a total value of $7,662,756.88. Following the transaction, the insider now owns 10,386,713 shares in the company, valued at approximately $548,002,977.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 511,223 shares of company stock worth $27,124,902. 17.30% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in SEIC. Arizona State Retirement System raised its holdings in SEI Investments by 2.7% during the third quarter. Arizona State Retirement System now owns 93,538 shares of the asset manager’s stock worth $5,715,000 after purchasing an additional 2,442 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of SEI Investments by 676.0% in the second quarter. Schroder Investment Management Group now owns 19,634 shares of the asset manager’s stock worth $1,233,000 after acquiring an additional 17,104 shares in the last quarter. Deutsche Bank AG raised its stake in SEI Investments by 36.4% during the third quarter. Deutsche Bank AG now owns 686,500 shares of the asset manager’s stock valued at $41,940,000 after buying an additional 183,302 shares in the last quarter. Paloma Partners Management Co acquired a new stake in SEI Investments during the third quarter valued at approximately $1,051,000. Finally, FMR LLC grew its holdings in shares of SEI Investments by 5.6% during the second quarter. FMR LLC now owns 206,863 shares of the asset manager’s stock valued at $12,934,000 after purchasing an additional 11,055 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

About SEI Investments

SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.

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